Jim Rickards, investment banker and economist with over thirty years’ experience in capital markets, speaks of the coming new great depression, explaining why it’s different from a recession and any other crisis we’ve experienced in our lifetimes.
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This Is WHY We Are In A New Great Depression. “Printing Money Isn’t Stimulus” – Jim Rickards
Jim (James) Rickards is a lawyer, investment banker, and economist with over thirty years’ experience in capital markets. He is the author of Currency Wars: The Making of the Next Global Crisis (2011) and five other books. James Rickards frequently does interviews and podcasts where he discusses his views on the world of finance, economics, investing, and currency. He is often known for his interesting contrarian point of view on the current market and global economic conditions, gold, and monetary policy.
0:00 – Why we are in an economic depression, and why it’s different from a recession
0:35 – Why deflation, and not inflation, is the greatest danger for the economy
1:58 – Why there are the two kind of gold investors: those with weak hands, and those with strong hands
4:06 – Why the stock market is detached from the real economy
4:26 – How the Federal Reserve “money printing” machine is turning $454 billion into $4 trillion
6:11 – Why this new money printing is NOT stimulus and it will not stimulate the economy
6:59 – Why this crisis is different from others by being both a supply AND demand shock
8:36 – Why the closest similar crisis is the Great Depression of 1929
10:06 – Why the economic recovery will be slow
10:43 – Why the impact of this new great depression will last for a generation
#finance #investing #JimRickards
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